Blonder Tongue agrees new credit facility

Wednesday 4 January 2017 | 12:06 CET | News
Blonder Tongue Laboratories announced a new credit facility worth USD 8.5 million with Sterling National Bank, maturing in December 2019. The new credit facility consists of a USD 5 million asset-based revolving line of credit and a USD 3.5 million amortizing term loan. A portion of the proceeds has been used to repay all amounts outstanding under the company's existing credit facility, which has been terminated. That credit facility was scheduled to expire at the end of 2016. The new credit carries interest of 30-day LIBOR plus a margin of 4.00 percent with respect to the revolving loan and

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Categories: Broadcast & Satellite / Internet
Companies: Blonder Tongue
Countries: World
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